Lok'nStore

Lok'nStore Group PLC
Company typePublic
LSE: LOK
IndustryStorage
Founded1995
HeadquartersFarnborough, Hampshire, UK
Number of locations
43 (March 2024)
Key people
Andrew Jacobs (Chair),
Ray Davies (Finance Director),
Neil Newman (Managing Director),
Tom Lampard (Property Director)
Revenue
  • Increase £25.3 million. Up 12.1% (2022: £22.5 million)
Number of employees
200+ (2024)
Websitewww.loknstore.co.uk
Footnotes / references
https://cdn.loknstore.co.uk/reports/annual-reports/LoknStore-Annual-Report-2023.pdf

Lok'nStore Group PLC[1] is a provider of self storage space in the UK. The company rents individual, storage units to both business and domestic / household customers. Lok'nStore has been listed on the Alternative Investment Market (AIM) since June 2000.[2][3]

History

Lok'nStore was founded in February 1995 from one freehold store in Horsham, by Andrew Jacobs.[2] Five years later, in May 2000, the business became a public company known as Lok'NStore Group PLC.[4]

In 2003, the company received a takeover approach valued at around £33m, which was rejected by the Board.[5][6] The company received a further takeover approach in 2009, which also did not proceed.[7]

In December 2018, the company purchased the existing storage business 'The Box Room' in Hedge End, Southampton. The Box Room building was then rebranded as an orange Lok'nStore centre.[8]

In February 2019, Lok'nStore Group PLC sold a document-storage business, Saracen Datastore Ltd, to Iron Mountain UK PLC for £7.6 million in order to pay down debt and help fund future acquisition and development plans.[9]

References

  1. ^ Lok'n Store Limited and Lok'n Store Group PLC are limited companies registered in England and Wales. Registered numbers: Lok'nStore Limited: 2902717 Lok'nStore Group PLC: 4007169
  2. ^ a b "About Lok'nStore | Lok'nStore". Lok'nStore. Retrieved 3 March 2024.
  3. ^ "LOK'N STORE GROUP PLC LOK STOCK | London Stock Exchange". London Stock Exchange. Retrieved 3 March 2024.
  4. ^ "LOK'N STORE GROUP PLC overview - Find and update company information - GOV.UK". Find and update company information | GOV.UK. Retrieved 3 March 2024.
  5. ^ Foley, Stephen. "Lok'n Store shares soar on bid approach". Retrieved 17 December 2019.
  6. ^ "Site revaluation holds key to Lok'nStore's future". Independent.co.uk. 22 March 2004.
  7. ^ "End of Offer Period" (PDF). London Stock Exchange. 21 July 2009. Retrieved 3 March 2024.
  8. ^ "THE BOX ROOM (SELF STORAGE) LTD persons with significant control - Find and update company information - GOV.UK". Find and update company information | GOV.UK. Retrieved 3 March 2024.
  9. ^ "Strategic Disposal" (PDF). Lok'nStore Group PLC. 1 February 2019. Retrieved 3 March 2024.